Posted on 01/02/2010 7:01:11 AM PST by sickoflibs
From January 2009 till passage, MSNBC's Rachel Maddow dedicated her program to the passage of the Economic Recovery Act, which she called over and over ‘the stimulus'. She gave us statistics on how bad the economy was, how urgent action was required and how that action must be government 'pork' project spending. She also explained how handing out money to the poor created the most jobs the fastest and it would give us the biggest bang for our buck, claimed that we would get $1.73 of stimulus for every tax dollar ($1.00) given away because the poor would spend each whole dollar. (Wow! Are we rich yet??). She also lectured us on how Republican economic ideas were repudiated in the 2008 election results, and how everyone knows tax cuts do not stimulate the economy. I posted some examples of her lectures below, as she says herself 'for dummies like us'.
Night after night Rachel Maddow and her 'expert' guests criticized the democratic congress and Obama for including 'all those wasteful tax cuts' in the recovery bill just to appease Republicans, repeating that tax cuts don't work. After all, she said over and over, 'tax cuts are just wasteful spending' (????, LOL reference below.) What they were calling 'republican tax cuts' on her MSNBC show was really the tax credits in the bill. They were not talking about tax cuts to small businesses, or capital gains tax cuts, or even broad based income tax cuts. They were talking about either literally sending out 'tax credit' checks to those that pay no income taxes (like thousands of dead people), or temporarily changing withholding of federal income taxes by a few dollars a month for those that don't make too much, while claiming the credits were huge tax cuts added only....
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If you realize both parties in Washington think our money is theirs and you trust them to do the wrong thing, this list is for you.
If you think there is a Santa Claus who is going to get elected in Washington and cut a few taxes and spend a few trillion and jump start the economy, and get our lost money back, this list is not for you.
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Remember those fun days of being lectured about how every economist knows that government spending is the only way to create jobs? And the most effective way? Hand out checks to the poor because they will hire us, right?. And that tax cuts dont produce jobs since we tried tax cuts, Right? Here is my tribute to that liberal MSNBC brilliance.
Libs outlook on economics is all the same. I was in NY recently in a cab when the driver said that a rich family had just checked out of the Marriot Marquis after spending $23,000 on penthouse rooms. Cabbie said it was “unfair to spend money like that on the backs of all his employees”. I said, A) He earned it and has the right. B) How do you know he didn’t give each of his employees a $23,000 bonus? C) This is how capitalism works. Him spending 23K at the Marriot helps keep thousands of Marriot people employed. He just grumbled. Idiot.
How did that economic stimulus really work ? ping
It didn’t, it was just a political payoff.
If the venture capital fund is smart (and lucky), it will invest in projects and ideas and companies that expand and grow and earn a great return for the investors (and the economy BTW).
If the venture capital partners are not particularly smart, they just shovel the money out the door and see little or no return.
Maddow and Obama somehow have concluded that shoveling money out the quickly will result in a quick but lasting stimulation to the economy.
An excellent example of the efficacy of this kind of stimulus is the "cash for clunkers" program. It was quick, but when it ended, all its stimulation ended just as quickly.
But the money borrowed in still owed...and at final analysis the program cost was something like $24K per car (with some estimates at $45K per car).
Conclusion: the benefit to each person trading a clunker was $5,000 (taxable), but the cost to the tax payers was $24,000. That means the program had a roughly $19K per car loss...for no noticeable or lasting stimulus.
That's the problem with Maddow's and Obama's concept of stimulus economics...it fails to consider the multiplier effect of capital invested.
This may or may not have been the best use of his money for society as a whole. But what is scary is how many think the federal government can manage resources better than markets and prices(and Bush didn't help us in this argument at all by trying to manage the economy)
I would have asked him why Obama didnt raise taxes yet, when he had claimed over and other that it was the Clinton tax increases created the 1990s recovery and boom,
What does the notorious MSNBC homosexual Rachel MadCow know about economics??
The others I heard on FNC: The stimulus created ~ >1 Million jobs spending 350 Billion dollars, That is about 350,000 $ per job created or saved cost to taxpayers, the jobs pay ~40K $ per job .
The home loan modification program cost about 700-800K $ per modified home loan using simple arithmetic. It be cheaper to buy the homes and give them to them (not suggesting that LOL)
And Democrats cite this as 'bringing us back from the brink'. This is a huge embarrassment that is not widely known to those that don't watch FNC.
People believe this stuff. As I posted, democrats here in Maryland repeat this stuff to me all spring. Networks reported nightly : “Economists agree...”. And dont forget the brilliant(LOL) Paul Krugman.
Holy crap! Imagine how rich and prosperous we would all be if the gooberment printed a few quadrillion dollars and handed it out like Santa Claus! Maddow for Treasury Secretary!
Bad, bad, bad.
I was talking about chewing gum.
It doesn't matter what you, the government, or society thinks is the best use of his money. It's his money.
What libtards and the economic illiterate fail to acknowledge is that the only value “to society” involved the value of the goods or services “the rich man” produced that made him that money. He produced something that enriched society by x amount. If he burns the money, saves the money or spends the money he got in exchange makes no difference at all to the value to society.
The second fallacy is that when the government confiscates from the rich and productive and gives it to those who produce nothing, that society benefits. The exact opposite is the truth.
Too bad you didn’t tell him he was correct and wasting money is definitely wrong. Therefore, “Stop the cab! I should get out and walk and benefit from the exercise, rather than WASTING money paying for a ride in this cab!”
“Stop the cab! I should get out and walk and benefit from the exercise, rather than WASTING money paying for a ride in this cab!”
...I like that! Had my 2 little girls and my 86 year old mother in law with me though. It was 10 degrees to boot. Otherwise, that would’ve been an excellent response.
Madcow is blissfully ignorant that no gov’t in the history of the world has ever spent itself into prosperity. She LIES!
You are also missing another issue with the Cash For Clunkers program. That is the assets destroyed namely the clunkers. Are often the only cars Low income folks can afford to drive. Or students in College who have limited income. When you destroy those assets you change the economics of the marketplace. Hurting the very people you claim to want to help. This is moronic stupidity.
Rachel Maddow is an extremist Lib who hates Conservatives. And has no clue about the Capital markets. Like most of the idiots on MSNBC she fails utterly to articulate the true nature of our recession. It is a Credit Based Recession not an Inventory based recession. The other serious problem never articulated by those shilling for Obama. His answer is another attempt to reinflate the Real Estate asset bubble. We cannot. We have no more capacity to take on more debt. And the Chinese and others are refusing to enable any more.
Maddow is a particularly stupid and ignorant Partisan hack. When the AP, and media for example continue to support Global Warming. They are destroying any shred of credibility. They have none.
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